Contact Information

Mobile Home Park Details

  • Price: $4,600,000
  • Purchase Method: Cash, Assumable Loan
  • Cap Rate: 3.9%
  • Property ID: 1293894
  • Posted On: Jul 23, 2020
  • Updated On: Jul 23, 2020

Property Description

Orange County Mobile Home Park
Good Manager, Quiet Park, Clean
28 Spaces, 1 House
No Rent Control
New Utility Co Owned Utilities - Direct Bill
Below Market Rents - Average rent is $775 Market is $950+
Current Rents Net Income $171,000
Market Rents Net Income $237,000
$4,600,000 Asking Price

No Park Owned Homes or Notes
Ideal 1031 Candidate

Location

1 mile From the Beach

Amenities

  • Laundromat
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Park Information

Community Type: All Age
Number of MH Lots: 28
Total Occupancy: 100.0 %
Year Built: 1950
Average MH Lot Rent: $775
Size: 1 acre(s)

Financial Information (Pro Forma)

Gross Income $263,000
Operating Expense $91,658
Net Operating Income $171,000
Expense Ratio 34.9 %
Debt Info $1,650,000 1st TD @ 5.0% Fully Assumable/Prepayable

Lot Information

Singlewide Lots: 23
Doublewide Lots: 5

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 0

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